Cops in Dhaka shut down a protest march headed for the Indian High Commission in Gulshan. The group, July Oikya, organized the demonstration. They started moving from Rampura Bridge in the afternoon. Their main demand was for India to send back Bangladesh's PM Sheikh Hasina. They also wanted people accused of crimes during something called the July Uprising to face justice.
Officers created a huge traffic mess on Pragati Sharani by blocking the route. Protesters actually pushed past one police line around 4 pm near Uttar Badda. They hit another, stronger barricade shortly after and stopped. Hundreds of them just sat down on the road. Using loudspeakers, the crowd chanted slogans. They accused India of expansionist policies and...
Lagos handed out cash and food to its retired workers at an event in Ikeja. The Head of Service, Bode Agoro, said the gesture shows the state remembers their service. He stated that Governor Sanwo-Olu prioritizes welfare for both current and former staff.
Multiple pensioners at the NECA auditorium called the move meaningful, saying it provided dignity and holiday support. The program runs for two days across different divisions to reach everyone. The head of the state pension commission, Babalola Obilana, told retirees they remain valued members of the public service family.
He reiterated commitments to timely pension payments and better healthcare access. Officials framed the packages as a symbol of gratitude, not just material aid...
International Energy Insurance is having a virtual shareholder meeting at the end of the year. The main topic is a plan to raise up to 17.5 billion naira. This cash is needed to meet the new capital rules under the recent insurance reform act.
A key part of the proposal involves converting an existing deposit. Norrenberger Advisory Partners would turn a two billion naira deposit from 2023 into equity. Shareholders will vote on creating over a billion new shares for this conversion. The company says its recent turnaround, called the 10x Story, shows a stronger foundation for growth. Instructions for joining the online meeting and voting have been sent to investors.
Lasaco Assurance got the green light from its shareholders to boost its capital. The insurer is aiming for a thirty-six billion naira level. This move beats the upcoming regulatory deadline for composite firms, which is set at twenty-five billion.
The chairperson, Teju Philips, ran the meeting in Lagos. She explained the plan aligns with the new insurance reform act. The higher capital base will let the company underwrite more business. The proposal involves a private placement and a rights issue to create billions of new shares. Attendees included directors like Fola Tinubu and Ademola Oshodi.
Shareholders approved all related measures. This includes changing the company's official documents and letting directors finalize the deal...
First HoldCo sold off its merchant bank. The parent company dumped FBNQuest Merchant Bank to the EverQuest Group. The move is about shifting money and focus, according to the board.
The cash from the sale will bulk up the main subsidiary, FirstBank. They also plan to spend on tech stuff for better customer service. The chairman, Femi Otedola, called it a long-term play for more value. The group managing director, Wale Oyedeji, said it lets them concentrate on commercial banking and other subsidiaries like their asset management and insurance broker arms.
They frame this as a step to sharpen their market position. The idea is to free up resources for innovation and growth in their remaining businesses.
APM Terminals cut a deal with a local barge company to grow operations around Apapa port. The exclusive lease with Barging Marine Solutions aims to boost capacity and offer better land and water connections. APM's CEO, Keith Svendsen, said the Nigerian market is expanding, and they want to develop its potential.
The agreement covers two waterfront terminals, an inland depot, and barge services. This setup is meant to give customers an option besides trucks, hopefully cutting road congestion and costs. The managing director for APM in Nigeria, Frederik Klinke, thinks it will make supply chains more reliable. Barging Marine Solutions will run the services, with both firms working on new customer solutions.
APM handles a huge portion of...
Nigerian seaports saw a massive jump in exports last quarter. The Port Authority reported export container numbers exploding by over a thousand percent. Total cargo handled hit 33.52 million metric tons, a solid increase from the previous year.
The data shows a huge rebalance in container traffic. Import boxes grew, but export containers skyrocketed to over 69,000 units. This surge cut down on empty container movement by over twenty percent. More and bigger ships also called at the ports, with gross tonnage up eighteen percent.
Lekki Port handled the largest share of both cargo and the biggest vessels. Onne, Apapa, and Tincan Island followed in activity. While liquid bulk still makes up most of the tonnage, containerized goods are a...
The government says it's throwing major money at farming to boost the economy. The agriculture minister, Abubakar Kyari, laid out the plan at a ministry retreat in Abuja. The focus is on big investments in equipment, irrigation, and processing plants.
They are making deals with foreign tractor companies like John Deere and setting up special industrial zones for agriculture nationwide. Kyari stated the goal is to move from small-scale subsistence to commercial farming that creates jobs. He mentioned a national food reserve to control prices and new market hubs for farmers.
The junior minister, Aliyu Sabi, said internal restructuring created new departments for data and mechanization. He credited recent regulatory changes with lowering...
The national debt office warned state governments to follow the law when taking loans. The DMO director general, Patience Oniha, spoke at a training session in Abuja for state officials. She said borrowing outside the legal framework risks their financial health.
Oniha explained that the workshop teaches the proper process for getting domestic or foreign loans. This includes adhering to the Fiscal Responsibility Act, which she called mandatory, not optional. She mentioned that past delays happened because states did not understand the rules, prompting these sessions.
She listed key laws governing public debt, like the Constitution and the DMO Act. The goal is to help states navigate the system efficiently to fund development projects...
